December Property Market Review
[12- 30- 2020] ESR Group said today it listed ESR Kendall Square REIT (KRX Stock Code: 365550) on the KRX KOSPI Market of the Korea Exchange, marking the first publicly listed institutional logistics - focused REIT in Korea.
ESR Kendall Square REIT is sponsored by ESR Kendall Square, a subsidiary of ESR, with prime logistics facilities in Korea as its underlying assets. The initial portfolio consists of 11 logistics facilities mainly located in the Greater Seoul Metropolitan Area, with a total GFA of 684,095 sqm. Ten of these were recently acquired, through a combination of direct asset purchases and through the purchase of approximately 99% equity interest in four real estate funds that own certain of the properties, from funds managed by ESR Kendall Square. The acquisition of the 11th property, the Anseong Logistics Park, is expected to be completed by June 2021, the company said.